COOK onions in hot oil in large saucepan on medium heat 5 to 7 min. or until tender. Stir in milk. Bring to simmer, stirring frequently.

ADD Velveeta and broccoli; cook and stir 6 to 8 min. or until Velveeta is melted and broccoli is heated through.

STIR in ham and corn; cook 4 to 5 min. or until heated through, stirring occasionally.